Amazon's HQ2 may inflate Toronto rents by this much

Posted :
February 6, 2018

Back in September 2017, Amazon announced its intent to establish a “sister” installation to its Seattle headquarters, and a leading property portal predicted in its latest report that Toronto’s renters might have to pay at least another $137 annually should Amazon push through with building the new HQ in the city.

Just a few weeks ago, Toronto was named among Amazon’s short list of 20 finalists. TorontoRentals.com estimated that such a sister HQ in the city will bring as much as 50,000 highly paid Amazon workers and an assumed 66,250 supplementary workers over a 10-year period.

Consequently, annual rent increases could shoot up to as much as 2.8% to 3.1%.